From the course: Safeguarding Customer Credit Card Data: PCI Compliance
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Magnetic swipe vs. alternatives
From the course: Safeguarding Customer Credit Card Data: PCI Compliance
Magnetic swipe vs. alternatives
- [Narrator] It's highly likely that you have cards in your wallet which contain chips. Chip cards utilize EMV technology which stands Europay, Mastercard, and Visa who began the initiative. The chips contain an encrypted iCVV not contained in the magnetic track which only the issuing bank can decrypt. These numbers from 2018 show a steady global increase in EMV deployment. More recent numbers are not easily available, but it's reasonable to think they are nearing a hundred percent in most non-US countries. Although it took the US much longer to deploy chip cards compared to other countries they are now, for the most part, standard. Chip cards reduce fraud by creating data that is particular to a given merchant transaction. The chip and the terminal work together to create a token which cannot be reused. The payment process then continues in the same manner with the token data being sent to the issuing bank. Data on a…
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